In 2023, the number of mentions of Bitcoin’s “death” in various media outlets reached the minimum for the last decade. The trend shows a gradual shift in the attitude towards crypto in the public eyes.
According to the resource 99bitcoins that tracks the “obituaries” of Bitcoin, this year, mentions of the “death” of the first cryptocurrency appeared in the media only seven times, which is the lowest level in the last ten years.
In total, the cryptocurrency was considered “dead” 474 times in the media since the beginning of 2010. Notably, the “obituaries” of the first cryptocurrency appeared most often in 2017, when Bitcoin quotes began to grow actively for the first time, increasing by 1,900% over the year. However, despite the asset’s success, the media announced its “death” 124 times. In 2021, when the price reached its all-time high of $69,000, the asset was considered “dead” 47 times. And during the prolonged crypto winter of 2022 — 27 times.
Statistical data collected by the resource takes into account the content created by a famous person or published on a website with a wide readership and high traffic. Not only the title of such material, but also its content should indicate that Bitcoin will be useless in the near future or is so at the moment. It should be noted that the resource considers only English-language content.
More than half of the “obituaries” this year appeared in January, within two months after the collapse of the crypto exchange FTX. Bitcoin was most recently declared “dead” by Chamath Palihapitiya, a successful venture capitalist and former top executive at Facebook. “Crypto is dead in America,” Palihapitiya said, referring to the prospects for the crypto market in the context of U.S. regulation.
According to Oliver L. Velez, a professional trader, talking about the “death” of Bitcoin will soon be the biggest nonsense, since the crypto market is actively developing, and each subsequent cycle of Bitcoin makes it stronger and more popular.
Investors actively demonstrated confidence in Bitcoin’s prospects this year, holding BTC in anticipation of a bull market, even though most of the short-term investments in the first cryptocurrency this year turned out to be unprofitable.
